CMG History

China Merchants Group was established in 1872 as the first business enterprise in modern Chinese history. Under the situation of commercialization, the company made lots of accomplishments such as attracting public investment, forming marine fleet, broadening the shipping sea lines, acquiring foreign enterprises, setting up banks etc. All these had stimulated economic growth and triggered modernization transformation of industrial chain. CMG was deeply involved in the Reform and Opening-up and to promote social progress with commercial success.

CM into the New Century

2000

April 19th, CMG and Commercial Bank of China signed an share transfer agreement, showed that CMG would transfer at the price of 7.52 per share, a total amount of 1.804 billion Yuan to the ladder, the full transfer of 240 million shares of stock of Union Bank Industrial (accounting for 53.23% out of 450 million Union Bank shares).

July 7th, The Chongqing Highway Science Research Institute of Ministry of Communications was transformed as a subsidiary of China Merchants Group Limited.

July 25th, McKinsey & Company was hired to conduct a comprehensive enterprise diagnosis of CMG.

2001

February 26th-28th, CMG held the fifth working conference in Zhangzhou Development Zone. Qin Xiao, the chairman of the board of directors made a speech. A strategic planning of CMG’s development strategy and the implementation of reorganization were proposed.

This year, a large-scale adjustment of industrial business unified management of real estate, logistics, technology, ports and so on.

This year, as the group adjusted its assets and financial structure, the proportion of non-performing assets decreased significantly.

2002

July, The group sold out its 13.544% shares of Ping An Insurance Group, and 1.484 billion Yuan were recovered in cash.

July, President Jiang Zemin，NPC Chairman Li Peng，the Premier of the State Council Zhu Rongji, CPPCC Vice Chairman Ho Yingdong, and the chief executive of the Hong Kong Special Administrative Region Tung Chee Hwa congratulated on the 130 anniversary of the establishment of China Merchants Group.

This year, Adjustment and re-structure of non-performing assets were finished, and thus solved historical problems of bad assets.

2003

January 28th , Chairman of the board of directors Qin Xiao and President Fu Yuning gave a work report on CMG to the Central Government. Vice Premier of the State Council Wu Bangguo congratulated on CMG’s achievements and encourage the group to develop further.

This year, CMG stepped into a new era that would focus more on recurring profit. CMG’s recurring profit saw a year-on-year raises of 54% to 3 billion HK dollars, and the net assets profit margin reached 11.9%. Both were the best record in history.

This year, a new round of a large-scale investment activities were launched, which to construct nationwide business of ports, real estate, logistics, etc.

This year, The group furthered its consolidation of business, and gradually faded out of containers and bulk cargo shipping market. Instead, it actively participated in the promoting national energy transportation and facilitating the completion of the integration of financial assets. Since then China Merchants Finance Holdings Co., Limited mainly managed equity assets of CMG.

This year, With the support of Shenzhen Municipal Government, the Group got the right to develop a piece of land of 3.5 square kilometers at linage bay and a piece of land of 1.7 square kilometers Technology Industrial Park at Guangming South, Baoan District.

2004

This year CMG’s profit hit a new record, achieving operating income of HK$16.571 billion, an increase of 24.87% compared to 2003; recurring profit was increased by 53.72% to HK$5.196 billion; total profit was increased by 77.66% to HK$ 5.703 billion; net profit was increased by 108.66% to HK$ 40.48 billion.

August, the plan of listing CMG tanker fleet on stock market was approved by the State Council in particular, thereafter, the tanker fleet was re-organized and listed successfully with the capital investments of Sinopec and other important partners. September 6th, CMHI was listed on Hong Kong Hang Seng Index, and ranked top three at the 2004 Billboard Hang Seng Index constituent stocks.

September 6th, CMG celebrated the first “Company Day”

September 6th, Historical Museum of China Merchants held a grand opening.

October, CMG and the Shenzhen Municipal People’s Government signed a comprehensive memorandum of cooperation in Shenzhen, planning to invest billions in the further development of integrated logistics services in the city.

This year, CMHI spun off its asstes of five toll roads in China and listed successfully in Singapore.

December 9th, Institute of CMG History was established in Shekou.

December 16th, The project of Shenzhen Mazhou Island Ship Repair Base was officially launched , which was expected to invest more than 2.3 billion.

December 29th, The group purchased 30% shares of Shanghai International Port (Group) Limited by 5.57 billion Yuan, and became the second largest shareholder. CMG has been basically completed its strategic layout in China’s coastal container hub port.

2005

August 19th, China Merchants Group was awarded as one of the 25 A Level SOE by the SASAC during the annual assessment of 179 state-owned companies.

December 27th, Approved by the State Council, CMG transferred the China Merchants International Tourism Management Corporation to HongKong China Travel Service Group.

2006

This year, CMG spent three years (2004-2006) to achieve the goal of recreating a CMG two years ahead. Main indicators on finance and business doubled compared to 2013; total profit reached to 91.4 billion (ranked in 16 in the 159 central enterprises); net profit achieved 5.9 billion Yuan; total assets and net assets accomplished 114.33 billion Yuan and 129 billion Yuan respectively; total assets under management exceeded 1 trillion Yuan and reached to 1.0216 trillion Yuan.

July, CMG invested 1.055 billion Yuan to increase holdings of China Merchants Securities from 35.43% to 51.65%. Afterwards, net asset of China Merchants Securities increased from 17 billion Yuan to 32 billion Yuan and thus enhanced strength significantly and speed up the pace of expansion. The company acquired 21 securities business department, hosted 16 business departments, and expanded its management from original 31 sales department to 69.

September 22th, China Merchants Bank listed on Hong Kong Exchange successfully, and issued 2.42 billion shares to raise a total of HK$ 20 billion (net of issue expenses). China Merchants Bank’s H-share public offering were 265 times oversubscribed, international placement portion was 50 times oversubscribed, both hit a new record in Hong Kong.

October 26th, Shanghai International Port (CMHI as the second largest shareholder) merged Shanghai Port Container Co., Limited and listed on the Shanghai Stock Exchange market.

December 1st, China Merchants Energy Shipping Co., Ltd successfully listed on the Shanghai Stock Exchange. The IPO of this company successfully issued 1.2 billion A shares and attracted 130 times oversubscribed online. A total of 4.36 billion Yuan ( net of issue expenses) was raised.

2007

2007, CMG held a series of high-end large-scale public relations activities for celebrating the 135th anniversary of the establishment of CMG, which resulted in wide media coverage and employee participatory. As a result, the group made great progress in brand building, development of high-end public relations and strengthening internal cohesion.

August SASAC announced the results of central business executives for 2006 performance evaluation that CMG was awarded as A Level SOE for the third consecutive year. SASAC held the first performance evaluation awards ceremony for executive leaders of state-owned companies in Beijing on November 2nd and honored CMG as “outstanding performance enterprises”.

Same year, CMG’s project “new re-engineering” made a good start and achieved great results again. The Group reached total profit of nearly 20 billion Yuan, and for the first time net profit exceeded 10 billion Yuan, which was a new record in CMG’s history.

December 26, China Merchants Securities made a successful acquisition at the price of 6.32 billion Yuan to purchase 48% of Boshi Fund shares. Taking 25% shares previously owned by China Merchants Securities, the company together hold 73% shares and thus has absolute control. Established in July 13, 1998, Boshi Fund Management Co., Ltd. is one of the five fund companies that first established in mainland China. By the end of 2007, Boshi Fund raised funds of 250 billion Yuan, making it one of China's largest asset management fund management companies.

In 2007, CMG continued to deepen internal integration with main initiatives, such as upgrading China Merchants Logistics Group to be under direct management of CMG. Hong Kong Haitong Company purchased China Communications Import and Export Corporation, unifying the management of CMG’s trading business. In order to help CMHI be more focused on maritime business, the group acquired shares of China Merchants Asia-Pacific from CMHI at the price of 2.95 billion Yuan. The end of 2007, Island margin ship repair base basically completed and put into production. The total investment of 2.765 billion Yuan in Shenzhen Island margin ship repair base started from December 16, 2004 construction, which lasted three years, completed at the end of 2007, Shekou Union, China Merchants Heavy Industry began to move to the island. After the ship repair base production, China Merchants Industry Group had a total capacity of 880,000 tons dock; it is more than three times the existing dock capacity. It’s putting into operation will greatly enhance China Merchants Industry Group's repair and marine engineering productivity and competitiveness.

2008

May 13th, Chairman of the board Qin Xiao instructed to donate one million Yuan to provide disaster relief in Sichuan Province. Meanwhile, the company organized fund-raising activities among staffs. 19600 employees all over the country donated an amount of 1.6 million Yuan by 17:00. According to statistics, employees and subsidiaries of China Merchants Group donated a total amount of 60.4742866 million as of June 10th for Wenchuan earthquake.

May 25th, The CPC Central Committee General Secretary and the State President Hu Jintao made a special trip to Elegant Integrated Housing Co., Ltd. Langfang Branch, a subsidiary of CMG, to inspect production of disaster relief portable dwellings.

Afternoon on September 8th, CMG and Vietnam maritime corporation held an inaugural ceremony of international container port in Vung Tau. JV in Hanoi, Vietnam. It was the first overseas investment of CMHI.

October, The establishment of Shenz Qianhai Bay Bonded Port Area, led by CMG, was approved by the State Council. The planning area of Shenzhen Qianhai Bay Bonded Port is 3.71209 square kilometers. It’s the 9th bonded port approved by the State Council.

2008, CMG achieved total profit of 14.159 billion Yuan and 198.04 billion Yuan for total assets. The parent company reached net profit of 8.589 billion Yuan and net assets of 56.173 billion Yuan.

2009

June 15th, China Merchants Group donated 50 million Yuan exclusively to launch Merchants Charitable Foundation, which was registered officially under the Ministry of Civil Affairs.

July 10th, Qianhai Bonded Port Area (I) was accepted by the national authorities, marking Qianhai Bonded Port Area has been ready to start up and thus became the sixth bonded port put into operation.

By the end of 2009, The new Singapore-listed China Merchants Pacific was incorporated into Huajian Center for integration of toll road service. In 2009, CMG’s total profit was 17.852 billion Yuan, with an increase of 23%. Net profit of parent company was 9.799 billion Yuan, representing a year-on-year raise of 16.4%. Total assets were 268.276 billion Yuan, net assets were 72.044 billion Yuan, and total assets under management was more than 22,000 Yuan. The company was awarded as A Level SOE for five consecutive years.

2010

January 1st, Tonggu Channel, Shenzhen was put into use officially, since then very large container liners can pull into Shenzhen West Port Area.

April 25th, Approved by the State Council, China Merchants Zhangzhou Development Zone upgraded to national economic and technological development zone, known as the China Merchants Zhangzhou Economic and Technological Development Zone.

April 28th, Jointly organized by the Ministry of Transport and the Chinese Seafarer’s Construction Union, CMG host the “60th Anniversary of the Uprising China Merchants Forum” in Shanghai . Fu Yunning , president; Xu Zuyuan,the leader Vice Minister of Transport Ministry; Guo Li, the deputy chiefof the central People’s Government Liaison Office in Hong Kong ; Li Tieqiao, Chinese seafarers union president construction and the leaders from State Council Hong Kong and Macao, Shanghai and other units as well as representatives of the Hong Kong Merchants uprising Crew attended the forum, the State Council Taiwan Affairs Office issued a congratulation letter.

July 5th, CMG completed the acquisition of Australian Road Kay (Loscam) and became the absolute controlling shareholder of the company. CMG therefore successful entered into the tray shared leasing industry.

In 2010, The Group achieved a total profit of 21.7 billion RMB Yuan while the net profit of the parent company was 12 billion Yuan, both reached historic high.

July 23th, SASAC announced the results for 2009 central enterprises performance evaluation. CMG was listed again as A Level SOE for the sixth consecutive year.

August 23th, CMG had a conference of cadres in Hong Kong. A leader from the higher authority announced a decision of appointing Fu Yuning as CMG’s Chairman and Li Jianhong the president and board member of CMG.

2011

Jan 1st, “Footsteps towards Civilization”, a documentary about China Merchants, were officially broadcast on CCTV to the world.

February 21st -22nd, CMG’s annual meeting was held in Shenzhen. The past 10 years of development was concluded and strategies for the next 10 years were drew in the meeting. The meeting also rewarded 16 corporations that made great contributions during the first decade of 21st century.

April 21st, CMG and the Xinjiang Production and Construction Corps signed a corporate agreement in Urumqi with a mutual investment fund of 10 billion RMB, mainly focusing on Xinjiang Production and Construction Corps’ major projects and supporting enterprise development.

July 14th, Chairman Fu Yuning, Vice-President Hu Zheng and board member Shi Wei traveled to Weining, Yi and Hui autonomous county (a national poverty alleviation region) to investigate the location for China Merchants’ Happy Town Project and location for logistic warehouse etc. They had a deeper understanding of Weining’s poverty situation and decided to offer more help to county from 2011, moreover stimulating strengths of community.

August 12th, Chairman Fu Yuning met with the President of Sri Lanka Mahinda Rajapaksa in the opening day of 26th Universiade in Shenzhen. Furthermore, China Merchants signed an BOT agreement about investing and managing Sri Lanka’s south Colombo container port.

November 13th, China Merchants Group published its first corporation culture handbook called “A Century of Tao of Business”

2012

In 2012, CMG had earned total revenue of 23.8 billion RMB, achieving a year-on-year raises of 9%. The parent company reached a net profit of 13.866 billion RMB, increased by 14%. Both of these records made historic high.

March 5th-8th , the 8th Public Lectures on History and Business in China Forum (2011-2012), hosted by the Chinese University of Hong Kong, were held in Hong Kong Central Library. The topic was “China Merchants in the contents of Chinese Modernization”.

October 26th, To celebrate the 140th birthday of China Merchants, China Post published a three-in-one special edition stamps called “China Merchants”.

December 3rd, China Merchants Capital Management Co., Ltd had its unveiling ceremony. CMG integrated 20 billion RMB from its various investment funds to found this company for managing special investment.

December 13th, Ceremony for CMG’s 140th anniversary was held in Shenzhen Baoli Theater. Chairman Fu Yuning presented a speech on “Following our century’s mission to contribute ourselves to Chinese rejuvenation”.

Decenber 29th, China Merchants Holding (International) Company Ltd announced to purchased the Port of Djibou.

In 2012, CMG positively coped with the economic decline of China and achieved a 22.3% increase in total sales revenue to 62.837 billion RMB. CMG’s profit saw year-on-year rises.

raised by 5.9%. On July 25th 2012, CMG was awarded as A Level SOE by SASAC again, making its 8th continuous winning record in a row.

2013

January 25th, China Merchants Holding (International) Company Ltd and CMA CGM Group from France signed a stock purchasing agreement, in which CMA CGM Group agreed to sell 49% of its wholly-owned subsidiary company Terminal Link’s stock to China Merchants Holding (International) for 400 million Euros in cash, including 15 ports oversea.

February 5th, China Merchants Holding (International) Company Ltd signed a contract to purchase 23.5% public stock of Port De Djibouti Ltd and become one of its shareholders.

March 24th, under the witness of Chinese President Xi Jin’ping and Tanzania’s President Jakaya Kikwete, CMG chairman Fu Yuning and Tanzania’s Minister of Finance William Mgimwa signed a strategic corporation framework agreement of developing Bagamoyo special economic zone. China Merchants Securities Ltd issued 10 billion corporate bonds, which was the first securities trader to step into corporate bond area in China. It created a new method for securities trader to raise money in the capital market. The money raised would mainly support innovation in business.

March, China Merchants Industry Holdings Co Ltd invested 300 million US dollars to set up a new company in Haimen, Jiangsu Province, named China Merchants Heavy Industry (Jiangsu) Co Ltd. The new company will purchase a total asset of 1.85 billion RMB from Jiangsu Haixin Shipping Heavy Industries Co Ltd in order to expand its business in marine shipping construction and repairing in eastern China.

April 20th, A grade-7 earthquake in Ya’an, Sichuan Province was reported, after which CMG immediately assembled 3 volunteer teams to carry out various rescue activities.

May 28th, The Xia-Zhang cross-ocean bridge, invested and constructed mainly by CMG was officially put into service.

May 28th, under the witness of Chinese President Xi Jin’ping and Tanzania President Jakaya Kikwete, CMG president Li Jianhong and Secretary of the Ministry of Transportation of Sri Lanka Pemasiri signed a corporation framework agreement of developing highways and port logistic in north Sri Lanka region.

August 3rd, CMG was awarded as A Level SOE of 2010-2012 by SASAC again, making a 9-year consecutive record. The group was also awarded as Great Performance Enterprise and Prize for Technological Innovation Enterprise.

December 20th, Sea World City Complex area had its grand opening, becoming a new upgrading landmark in Shenzhen.

In 2013, CMG achieved a 12.2% increase in total sales revenue to 72.59 billion RMB, making it the first time overpass 70 billion for the group. The total profit was 28.64billion RMB, increased by 8.2%, while net profit had a 12% increase to 24.06 billion RMB. The parent company’s net profit was raised by 16.3% to 17.13 billion RMB, reaching a historic high.

2014

April 23rd, CMG had a senior management meeting in Hong Kong, after which chairman of the board Mr. Fu Yuning announced to step down and president Li Jianhong will take over his work temporarily.

April 30th, CMG purchased 98 years of business management right and land-leasing right from Newcastle Port in Australia. The bid price was 1.75 billion Australian dollars with stamp duty tax, and the final net price after tax was 1.693 billion Australian dollars.

In May, China Merchants Securities placed 1.147 billion shares of stocks to raise over 11.1 billion yuan. Although the market was at a downturn, this private placement was still successfully recognized and supported by shareholders and capital market. After the placement China Merchants Securities was the top 3 the net asset securities traders in the industry. With enough capital asset China Merchants Securities can expand its business in the way that are free from capital market restrictions and enjoy a solid base of development.

July 2nd, CMG had a senior management meeting in Hong Kong, after which it announced that Mr. Li Jianhong would take up the post of chairman of the board and Mr. Li Xiaopeng would be CMG’s general manager and board member.

July 22nd the 2013 State-owned Enterprise Performance Evaluation Report was approved by SASAC. China Merchants Group has been recognized as A Level SOE for ten consecutive years from 2004 to 2014.

Sep 5th,China Merchants Group and Sinotrans & CSC Holding Co., Ltd signed a shareholder’s agreement to form a fleet with at least 40 VLCC in the next 2 years. This strategic reorganization furthered CMG’s progress of becoming a world-calss enterprise and contributed to the safety of crude oil import as well as maritime development of China.

September 16th, under the witness of Chinese President Xi Jin’ping and Sri Lanka President Mahinda Rajapaksa, China Merchants Holdings International Ltd and the Sri Lanka government signed an keynote agreement of Hambantota SOT Container Port and and an structural agreement on developing Sri Lanka international shipping center.

December 31st, The State Council officially approved the decision of setting up three pilot free trade zones in Guangdong, Tianjin and Fujian province, and also specified the regions of free trade zone. China (Guangdong) Pilot Free Trade Zone contains a 28.2 square kilometers area of Qianhai & Shekou Area of Shenzhen, in which 9.4 square kilometers area is from CMG Shekou Industrial Zone and 3.8 square kilometers from China Merchants International Co,. Limited, making a total of 13.2 square kilometers. China Merchants Group stands at the frontier of this age again.

CM in the Period of Reform and Opening-up of China

1979

January 3rd, The company drafted a report to the State Council named “On establishment of Industrial Zone in Baoan District, Guang Dong Province by China Merchants (Hong Kong)” on behalf of the Ministry of Transport and The Guangdong Provincial Revolutionary Committee.

January 31th, on the meeting with the Deputy Minister of Ministry of Transport Peng De-qing and Yuan Geng, Deputy Prime Minister Li Xian- nian and Gu Mu approved the joint report summitted by The Ministry of Transport and The Guangdong Provincial Revolutionary Committee.

April 1st, Construction headquarters of Shekou Industrial Zone was established.

1980

February 8th, the CPC Ministry of Transport ruled China Merchants enlarging its operating principle with “regarding shipping as business center”.

1981

June 16th, A full report from Xinhua News Agency was published by “People’s Daily”, which said: “the Shekou approach has attracted attention widely”. When the Central People’s Broadcasting Station broadcast this news in foreign language, the word “approach” was changed to “model”(i.e. mode).

November 23th, Entrusted by the State Council, Jiang Ze-min, Vice Chairman of National Import and Export Management Committee, spoke highly of the achievements and experience of Shekou Industrial Zone at the Fifth National People’s Congress during 21st session.

1982

March 21st, The report of Chiwan Deep Water Port Construction from the Ministry of Transport was approved by the State Council, which allowed China Merchants to buy into Nanshan Develop Co. Ltd without turning over profits to develop Chiwan Port in next 10 years.

June 14th, China Nanshan Development Co., Ltd was established officially. China Merchants held 40% of its shares.

1984

January 26th, Deng Xiao-ping the director of the CPC Central Advisory Commission and member of the Standing Committee of the Political Bureau Standing inspected Shekou Industrial Zone with the companion of member of CPC Central Committee Yang Shang-kun and Wang Zhen. Deng also wrote an inscription of “Sea World”.

February 24th, Deng Xiao-ping confirmed the slogan for Shekou Industrial Zone “Time is money. Efficiency is Life” during his meeting with the central leadership.

October 1st, a large Shekou floats with the slogan “Time is money. Efficiency is life” accepted an inspection on the grand 35th anniversary celebration by party and state leaders.

1985

November 12th, “The Request of Adjustment on the Board of China Merchants Group” submitted by the Ministry of Transport was approved by the State Council. China Merchants Group Limited was formally established as a subsidary company of the Ministry of Transport.

1986

June, The company acquired the Union Bank listed in Hong Kong, becoming the first non-financial enterprises that own a bank. It was the first aquisition by Chinese company through the stock market.

October 14th, China Merchants Group Limited registered in the Administration of Industry and Commerce of China.

December 18th, Gu Mu and the National Tourism Administration approved the establishment of China Merchants International Travel Corporation in Beijing.

1987

April 8th, People’s Bank of China approved China Merchants initiate to found the China Merchants Bank, which was the first joint-equity commercial bank invested by business after 1949.

1988

March 25th, The Company decided on the 13th general manager meeting to purchase over 10 bulk carriers and supertankers from Tung Shipping Group.

April 1st, the People’s Bank of China approved the foundation of Ping An Insurance Company initiated by China Merchants, which was the first stock insurance company founded by business after 1949.

August 28th, China Merchants invested HK$100 million to build Hong Kong’s first fully air-conditioned astylar barn, which was the largest barn in Hong Kong.

1989

March, The joint-venture Shekou Container Terminal invested by China Merchants Group and China Ocean Shipping Company was put into use in 1991.

December 28th, Anda Transport Limited, a subsidary company of Shekou Industrial Zone, became the first company that issued stock in Shekou.

1992

May 12th, The General Secretary of the CPC Jiang Ze-min wrote an inscription for the 120th anniversary of China Merchants: “Inherit the Spirit of Patriotism, Struggle for the Reunification of China. “

June, Haihong Group (now CMHI) scored a first by being the first Chinese enterprise to list on the Hong Kong stock market.

June 18th, the signing ceremony of the establishment of China Merchants Bank of Zhangzhou Economic Development was held in Zhangzhou Hotel.

December 4th, The General Secretary of the CPC Jiang Ze-min met with the leadership of the China Merchants Group and congratulated the 120th anniversary of China Merchants.

December 23th, Shanghai China Merchants Tower laid a foundation.

1993

September, China Merchants and other shareholders signed an investment agreement with Hong Kong government on the Western Harbour Tunnel which amounted to HK$3.9billion. China Merchants held 13% of shares.

1997

January 14-18th, the first working meeting since the establishment of China Merchants Group was held in San Xiang. The Minister of the Ministry of Transport Huang Zhendong, Vice Minister Liu Songjin, Vice Minister Hong Shanxiang,,and the leadership of China Merchant were present at the meeting. Wulanmulun, Vice president of Xinhua News Agency Hong Kong branch attended the closing ceremony. The meeting studied major issues the company was facing and discussed development strategies for next stage.

CM after the New China was Founded

1949

March 26th, Kuomintang authority declared military control over China Merchants.

April 30th, The Board decided to establish China Merchant General Management Office in Taiwan.

May 12th, Chairman of the Board of China Merchants Xu Xueyu left Shanghai to Taiwan.

27th May, Chinese People’s Liberation Army liberated Shanghai. The Military Control Commission of Shanghai took over China Merchants, the company returned to the nation ever since.

September 19th, Ship of China Merchants “HaiLiao” declared its uprising with the lead of the Captain Fang Zhenliu, during its business sailing from Hong Kong to Shantou. October 24th, Chairman Mao Zedong sent a telegram to encourage “Haikiao” Captain Fang Zhenliu and the crews.

1950

January 15th. All China Merchants employees in Hong Kong and the remaining 13 seacrafts, in total over 600 people declared their uprising officially.

September 2nd. Ministry of Transport authorized a certificate to China Merchants Hong Kong, officially recognizing this company to be administered under the Ministry of Transport of Central People’s Government.

November 1st. China Merchants (Shanghai Head Office) entrusted its Guangzhou Branch to take control of those sea crafts returning from oversea temporarily. Until then, China Merchants Hong Kong had successfully accomplished the mission of organizing and pushing forward those uprising sea vessels and so return to their motherland.

November 5th, Prime Minister Zhou Enlai telegraphed Tang Chuanlian, Chen Tianjun and the rest uprising crews, to express the praise and encouragement for their rerunning to motherland.

1951

February 1st, China Merchants (Shanghai Head Office) restructured to be China People’s Navigation Corporation, and took China Merchants Hong Kong under its leadership.

February 14th, China Merchants Hong Kong wrote to China People’s Navigation Corporation, asking to remain the original name of China Merchants Steam Navigation Company Limited to avoid disputes.

March 15th, China People’s Navigation Corporation replied that China Merchants Hong Kong may keep the name of China Merchants Steam Navigation Company Limited.

1952

January 1st, China Merchants was put under the leadership of South China Bureau of Maritime Transport Administration.

The company didn’t make much progress in business over the next few years.

1956

Same year, China Merchants reactivated on the market.

1958

November 28th, Ministry of Transport appointed China Ocean Shipping Company to lead China Merchants directly.

1962

Started from this year, China Merchants handled all transshipment operations of domestic goods to Hong Kong.

1972

1978

August, The Ministry of Transport heard a duty report from Yuan Geng, and proceeded the discussions and researches on how to maximize the influence of China Merchants.

October 9th, The Ministry of Transport handed in the document to Central Committee and State Council “Request for utilizing China Merchants Hong Kong sufficiently”. November, China Merchants spent 61 million Hong Kong Dollars to purchase a 24-floors commercial building at Connaught Road Central, Central Hong Kong, to be company office building.

CM in the Era of Republic of China

1912民国元年

February 1st, a consensus was reached in China Merchants’ extradinary shareholder meeting, agreeing to lend China Merchants’ assets to the Provisional Government of Sun Zhongshan for a morgage loan.

March 31st, the 2nd China Merchants shareholder general meeting was held at Zhang Yuan, Shanghai. China Merchants was renamed to Commercial China Merchants Shipping Company, representing the company became a completely private business.

1914

16th Febrary, Shareholder Special Meeting decided to set up a Chi Yu Property Co. to manage all non-shipping business. This was the first time in history separating shipping and non-shipping business.

1918

11th Sep., China Merchants Public School was open and had recruited 156 students. Ding Gengyao was the 1st principal of the school.

1927

Late April, The Kuomintang (KMT. or Nationalist Party) Central Executive Committee Meeting decided to form the National Government Inspection Committee to conduct a complete check on China Merchants, appointing Zhang Jinjiang and other 11 personnel members of the committee.

November, Ministry of Transport of National Government set up a Supervision Office at China Merchants.

1928

January, The Supervision Office suspended all board members of China Merchants. Instead, General Management Office was established, leading by. Zhao Tieqiao. Li Guojie exercised rights on behalf of the board.

July 3rd, Shanghai Branch was established, appoiting Shen Zhongyi as the head of the bureau..

August 18th, The National Transportation Conference claimed that China Merchants was transitioning from government-private enterprise to be a state-owned company.

October 3rd, The navigation college attached to the China Merchants Public School opened officially.

1929

June 17th, the 2nd Plenary Session of Kuomintang came to a decision that China Merchants would be supervised by the National Government instead of Ministry of Transport.

November 15th, Kuomintang government gave the formal decree to take over China Merchants.

1937

August 12th, China Merchants resisted the Japanese invasion with 7 shipwrecks at Jiangyin, one of them named “Xin Ming”.

August 13th, The company resisted the Japanese with a shipwrecks named “Haiyan” at Shilipu, Shanghai. Followed by “Xin Tianjiang” later in August.

September 12th, Yangtze River Business Management Office was established in Nanjing. Zhongyi Shen, the director general of the office, commanded ships to withdraw to hinterland of Yangtze River on behalf of the headquarter.

November, Nanjing, Zhenhai and Dinghai branches three branches of China Merchants sank pontoons purposely for preventing the Japanese invasion.

1938

April, The company sank “Jiangyu”, “Xinfeng” and pontoons at Liu Jia Miao, Anqing to resist invasion at Madang.

November 13th, In order to shelter the ships from military air attack of Japanese, China Merchants sent the “Jiangshun” on her trial sail into the Yangtze River and safely arrived in Yichang five days later. After that six ships withdrew into the Yangtze River.

1943

April, Ministry of Transport ordered China Merchants to re-establish its General Management Office at Chongqing.

1945

September, After the Japanese surrendered, Ministry of Transport authorized China Merchants and other shipping enterprises to take over the Japanese-owned maritime properties.

September – October, Restoration of each office of China Merchants.

October 23rd, China Merchants General Office moved to Shanghai officially.

1947

The President of National Government Jieshi Jiang wrote the inscription of “Progress Everyday Like a Brilliant Light.” for the 75th Anniversary of State-owned China Merchants.

1948

October 1st, The company accomplished transforming into stock enterprise and renamed to Merchants Steamship Navigation Co., Ltd.. Liu Hongshen acted as Chairman of the Board while Xu Xueyu was appoited to be the General Manager.

First half year, The company established a Japanese branch at Tokyo, and one office each at Yokohama and Kobe. Since then, the company explored Sino-Japan shipping business proactively.

December, the company dispatched personnel to Taiwan, preparing relocating issue.

1875光绪元年

Early November, Insurance Merchants was initiated. Chinese began to have own insurance business.

Same year, China Merchants involved British Municipal Council for technical assistance, setting up cable from the company to Hongkou Harbour, this was the first telephone cable laid by Chinese.

1876光绪二年

July, China-Renhe Insurance Company was established.

1877光绪三年

March 1st, China Merchants acquired Qichang Steamboat of US Russell & Co.. This company possessed 7 seagoing vessels, 9 riverboats and all kinds of pontoons, barges, harbors, warehouses amounted to a value of 2,220 thousand taels silver, all belonged to China Merchants. This was the first foreign acquisition for Chinese national enterprise.

December 26th, 1st Fixed Price Contract was signed with British-owned Taikoo and Yihe. It was the 1st remarkable victory for Chinese national enterprises competing against foreign businesses.

1878光绪四年

March, Jihe Water & Fire Insurance Company was established.

Same year, Chinese Merchants Steam Navigation Company Wenzhou Branch was established in Wenzhou.

1881光绪七年

January, Tang Yanshu, 2nd General Officer, drafted “Articles of Incorporation of China Merchants Steamship Navigation Company”, approved by Li Hongzhang was promulgated and implemented. This article was the basic regulation for the initial stage of China Merchants on many aspects, including organization, management, finance, water transport, insurance, shipping etc. It regulated China Merchants’ management system and business strategy.

October 4th, vessel “Meifu” loaded tea leaf and began its first voyage to England.

1879光绪五年

October 19th, Hezhong made its maiden voyage to Honolulu with 400 passengers on board. In the following year starting to saile to North America. On 30th July, the exploration of shipping line to San Francisco, West America, became a magnificent achievement in Chinese sailing history.

Same year, Nanyang Branch was established in Singapore.

1882光绪八年

Same year, China Merchants invested in a large coal mining enterprises in earlest Modern China--- Kaiping Mining Administration. This was the beginning of China Merchants diversified its investment in different business sectors.

1884光绪十年

July 29th, during the Sino-French War, China Merchants was entrusted to the American Russell & Co., in case of damages, which was the practical solution at that time. And the agreement of interchanging flag for shipping was reached. This was the well-known "selling assets and changing flag "issue in the history.

1885光绪十一年

May 17th, the company resumed the entrust from Russell & Co.and began to use China Merchants Flag for shipping again.

Summer, Sheng Xuanhuai promulgated “Regulation of Employment”, “Financial Regulation”, which had ten ordinances in each document. The company officially established the government-supervised and merchant-managed system. .

1886光绪十二年

Feburary, Renhe merged with Jihe and became Renjihe Insurance Company.

1887光绪十三年

Same year, the 1st tax-free warehouse in modern history of China was put into trial operation in Shanghai.

1891光绪十七年

Same year, the 1st mechanical textile enterprise in modern history of China --- Shanghai Machine Weaving Bureau was established.

1892光绪十八年

Feburary 25th, the 2nd Fixed Price Contract with Taikoo and Yihe was signed.

1893光绪十九年

1893, Spring, Chongqing Branch was set up.

1896光绪二十二年

November, Launched the first bank in Modern China --- the Commercial Bank of China.

Same year, Invested to found Nanyang Public School (precursor of Shanghai Jiao Tong University)

1899光绪二十五年

Same year, Established Nanjing Branch

1908光绪三十四年

Hanyang Ironworks, Daye Iron Mine and Pingxiang Coal Mine were merged to Hanyeping Corporation, which was the first iron, steel and coal complex in Modern China. China Merchants invested 1 million and 10 thousand taels silver. It was the largest outer investment of the company at that time.

1909宣统元年

August 15th, China Merchants held the 1st shareholder meeting at Zhang Yuan, Shanghai. 732 shareholders attended the meeting, and the 1st Board of Directors of China Merchants was formed.

August 24th, China Merchants received an imperial decree that the company was under the governance of Ministry of Postal Delivery of the Qing.

September 21st, China Merchants held its first board meeting, and elected Sheng Xuanhuai as chairman.

CMG, founded in the Westernization Movement in 1872, is a pioneer in China's national industry and commerce. During past 140 years, CMG made a lot of firsts and acted as a leader in different business fields, like setting up the first commercial fleet, bank, insurance company in modern China. CMG plays an important role in economic history and social development history of modern China...